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Guinness has reaffirmed its commitment to supporting youth creativity, innovation, and self-expression as it celebrated the winners and ex-housemates of Big Brother Naija Season 10 at a special prize presentation ceremony in Lagos.

The event brought together the newly crowned winner, Imisioluwa ‘Imisi’ Adeoye, fellow housemates, and senior executives of Guinness Nigeria in a lively atmosphere that reflected the energy and vibrancy the brand is known for.

Yinka Bakare, marketing and innovations director at Guinness Nigeria, commended the housemates for their resilience, confidence, and teamwork during the 10-week reality show, describing their performance as an embodiment of the Guinness spirit of boldness and excellence.

‘You are all winners. It is amazing to finally see you in person after watching you on screen for ten weeks. We are extremely proud to have been part of this incredible season, one of the most exciting we have experienced in years. Every one of you contributed to the emotion, creativity, and energy that made it so memorable,’ Bakare stated.

He noted that Guinness’ involvement in Big Brother Naija extends far beyond brand exposure, adding that the company’s partnership with the reality show underscores its commitment to nurturing young talent and inspiring the next generation of Nigerian creators and innovators.

‘Our partnership with Big Brother Naija is not just about visibility or brand showcase. It represents our ongoing commitment to youth, creativity, culture, and growth. We believe in empowering young Nigerians to dream big and achieve greatness. That’s why we are proud to have played a role in shaping your journeys,’ Bakare explained.

The Guinness director also applauded the contestants for the courage and leadership they displayed during Guinness-sponsored tasks in the house, emphasizing that such qualities align perfectly with the values the brand stands for.

‘Watching your confidence, teamwork, and determination during the tasks was truly inspiring. These are all attributes that define Guinness’s strength, character, and boldness,’ he said.

In her remarks, Imisioluwa Adeoye, the Season 10 winner of Big Brother Naija, expressed deep gratitude to Guinness Nigeria for its sponsorship and continuous support for platforms that give young Nigerians opportunities to shine.

‘This is life-changing for me. Without sponsors like Guinness, many of us might never have had the chance to be part of this journey. They believed in our dreams and gave us a platform to express ourselves, and that means so much,’ Imisioluwa said.

She advised young Nigerians to stay true to themselves and remain focused on their goals. ‘Be yourself, don’t stop working, keep praying, and eat well,’ she said with a smile.

In celebration of the International Day of the Girl Child 2025, themed ‘The Girl I Am, The Change I Lead,’ AfterHer is amplifying a powerful truth – that girls are not just the future; they are the present. Through its campaign, Dear Girl, Here’s My Voice, AfterHer is shining a light on the courage, creativity, and resilience of young women across Nigeria.

Dear Girl, Here’s My Voice: A Movement, Not a Moment

In a world where women’s empowerment is often reduced to a slogan, AfterHer is transforming the narrative by equipping girls with the tools to lead, speak, and shape their own stories. This campaign celebrates voices that inspire – voices that remind us that strength is born from resilience.

As Seun Babajide Duroshola, a Marketing Executive, shared, ‘Your journey shapes you, but your resilience defines you.’ AfterHer-Founder Vive Obi adds, ‘Let courage and curiosity show you how to grow.’ And transformational leader Dupe Olusola challenges girls everywhere to step beyond limits with her words: ‘True achievement lives outside your comfort zone.’

These aren’t just quotes they are lived philosophies from women who have walked difficult roads and emerged stronger, lighting the path for those coming after them. For Gbemisola Araba, embracing one’s story is one of the bravest journey: ‘To embrace your story at every stage is the bravest journey.’ Similarly, Abimbola Ijaniyi reminds us that authenticity is power: ‘Be bold enough to paint your life in your own colors.’

These reflections embody the 2025 theme girls leading change by defining themselves on their own terms.

Beyond Awareness – Building Systems That Work for Girls At the heart of AfterHer’s work is a belief that empowerment must go beyond education; it must be systemic. Girls need safe spaces to learn, resources to thrive, and platforms to lead. Through its four catalyst pillars – Financial and Digital Literacy, Online Safety, Representation, and Storytelling – AfterHer continues to bridge gaps and build futures where no girl is left behind. Because when a girl leads, communities rise.

The Call to Action

As Nigeria continues to confront challenges that limit access and opportunity for girls, initiatives like Dear Girl, Here’s My Voice remind us that progress starts with perspective – by listening to and amplifying the voices of those most often unheard. AfterHer invites all sectors – policymakers, educators, parents, and private institutions – to join in building a future where every girl can boldly say: ‘I am the change I lead.’

Nigeria has established a working group to explore the possible adoption of stablecoins as part of ongoing efforts to support innovation in the financial sector while balancing the risks of emerging technologies, according to Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN).

Cardoso disclosed this during a joint press briefing at the conclusion of the annual meetings of the World Bank and the International Monetary Fund (IMF) in Washington DC. He said the Central Bank, the Ministry of Finance, and other relevant institutions have set up specific working groups to take a deeper dive into understanding the broader ramifications and implications of adopting a viable framework for stablecoins in Nigeria.

The CBN governor explained that the discussion around stablecoins was one of the recurring themes at the meetings. ‘The message from there is that the Central Bank Governor, the Ministry of Finance, and others reached a general consensus on the need to support innovation and ensure it continues. By no means does anybody want to stifle innovation. However, there is also a need to balance this with the risks involved in these new technologies and digital currencies,’ Cardoso said.

He added that beyond policy engagements, the apex bank is deepening partnerships with key stakeholders driving innovation and investment. According to him, the CBN recently held a strategic session with Nigerian FinTech leaders under the theme ‘Shaping the Future of FinTech in Nigeria: Innovation, Inclusion and Integrity.’

Speaking on recent economic developments, Cardoso said inflation has eased, reflecting the impact of disciplined monetary tightening, exchange rate unification, and improved market transparency. He noted that the naira continues to strengthen, with the spread between the official and bureau de change rates now below 2 percent. Nigeria’s foreign reserves, he added, stand above $43 billion, providing more than eleven months of forward import cover supported by sustained inflows and renewed investor participation across asset classes.

He said the ongoing reforms have enhanced transparency and efficiency in the foreign exchange market, supporting the disinflation trend alongside stable exchange rates, durable improvements in food supply, and continuing moderation in petroleum product prices.

Cardoso also spoke about the growing role of non-bank financial institutions in the financial ecosystem, noting that globally, the ratio of financial dependence on banks versus non-banks has continued to shrink. He said microfinance institutions, digital lenders, and other non-bank entities have become significant players, but their regulatory environments are not as stringent as those of traditional banks. ‘Therefore, there is a need to closely monitor how that sector develops and to strengthen regulations accordingly,’ he stated.

He pointed out that the removal of fuel subsidies and expenditure rationalization have helped to rebalance public finances and create fiscal space for productive investment. According to him, the bold reforms undertaken over the last two years have set a strong foundation for Nigeria to pursue the next phase of its economic agenda, driving inclusive growth and job creation to alleviate poverty.

Speaking on the government’s job creation agenda, Doris Nkiruka Uzoka-Anite, Nigeria’s Minister of State for Finance, said the government is prioritising investments in infrastructure, the digital economy, and agriculture. She noted that Nigeria has joined the World Bank’s Agri-Connect Programme, designed to scale innovation in agriculture through blended finance to support women and vulnerable groups.

‘These initiatives, in collaboration with the World Bank, will catalyze job creation and business growth. As I mentioned earlier, we are also prioritising our spending and appropriation towards key sectors. With the increase in government revenue, which we expect to rise further next year through new tax reforms and the digitization and automation of revenue collection, government will have more funds to invest in these priority sectors. This will provide another boost to job creation,’ Uzoka-Anite stated.

For ten years, Businessfront, the parent company of Techpoint Africa, Finance in Africa, Energy in Africa, and Intelpoint, has chronicled the rise, challenges, and breakthroughs of innovation-driven enterprises across Nigeria and beyond.

We’ve seen how hard it is to last ten years in business.

Most startups don’t make it past five. The odds are tougher in an unpredictable market like Nigeria, where infrastructure, policy shifts, and economic cycles constantly test resilience.

Yet, across industries like banking, manufacturing, construction, energy, publishing, and education here are companies that have not only survived but thrived for five decades or more.

They have become institutions, employers of generations, and quiet builders of the Nigerian economy.

‘At Businessfront, we understand the weight of time. Reaching ten years has taught us what endurance requires: reinvention, vision, and leadership that looks beyond quarterly results. That’s why we’re celebrating those who have stood the test of half a century,’ a statement by the company reads.

Introducing Businessfront Over 50

Businessfront Over 50 is a landmark initiative that recognises and celebrates companies that have operated in Nigeria for 50 years and beyond – those whose resilience, innovation, and commitment have shaped the country’s economic story.

Through this platform, the firm is documenting not just longevity, but legacy – the values, leadership, and decisions that have kept these organisations relevant through changing decades.

The celebration spans three tiers of distinction:

Gold (50-70 years) – Honouring the golden milestones of sustained growth.

Diamond (71-99 years) – Recognising rare brilliance and continuity.

Ruby (100 years and above) – Celebrating timeless excellence and enduring legacy.

More Than an Honour – A Historical Record

Businessfront Over 50 is more than a one-time celebration. It’s a comprehensive, multi-platform project featuring:

A permanent online directory profiling Nigeria’s long-standing companies.

A commemorative magazine featuring executive portraits, legacy stories, and CEO interviews.

A trends report offering data-driven insights on the strategies and resilience patterns behind corporate longevity in Nigeria.

These components come together to build a living archive – a reference point for future generations of entrepreneurs, policymakers, and business leaders.

A Night of Legacy and Leadership

The initiative will culminate in an exclusive Businessfront Over 50 Celebratory Dinner – a black-tie event gathering CEOs, industry captains, government dignitaries, and thought leaders on 7th December 2025 and Venue will be announced soon.

This night will be dedicated to honouring the companies that have stood firm through decades of change – those who laid the foundations for the industries we now take for granted.

Why This Matters

This isn’t just an event. It’s a movement to reframe how we talk about success in business – beyond funding rounds and startup valuations, towards stewardship, stability, and legacy.

By spotlighting Nigeria’s most enduring companies, Businessfront aims to inspire a new generation of entrepreneurs to build with time in mind,

strengthen ties with legacy institutions that define the nation’s industrial backbone and provide valuable intelligence through research and storytelling that help preserve our shared economic history.

Because lasting 50 years in business isn’t just about survival – it’s about impact that outlives its founders.

In the food industry today, chicken, goat meat, and beef dominate the table. One Nigerian brand is boldly rewriting the rules. Meet AwóBoy, a food movement led by entrepreneur Mayowa Bello, who is placing guinea fowl, a richly flavored, culturally revered bird, at the center of a delicious revolution.

Guinea fowl, known locally as apáàró, is making a comeback. Once reserved for festive occasions and family gatherings, this under-celebrated protein is being revived and reimagined by AwóBoy as a premium, accessible, and modern delicacy.

‘What started as a casual weekend cookout turned out to be the spark of something great,’ says Bello, reflecting on the brand’s origin.

Mayowa’s journey began at WhiteLake Farms, where he initially reared chickens. But it was a weekend grill session with a colleague, who happened to raise guinea fowl, that changed everything.

‘That day completely changed my perspective,’ he says. ‘The guinea fowl, when slowly smoked on low heat, came out juicy, tender, and richly flavored; very different from the dry, tough texture I had previously experienced and disliked. It was a revelation.’

From that moment, Bello committed to exploring and perfecting guinea fowl preparation. The result? A signature slow-cooking method with curated spice blends that delivers an elevated, unforgettable taste experience.

Why Guinea Fowl?

‘Guinea fowl offers a distinct, naturally rich flavor that sets it apart from chicken or beef. It’s leaner, healthier, and requires less seasoning for its taste to shine. Think of it as a premium protein; flavorful, nutritious, and satisfying without being heavy.’

AwóBoy’s menu isn’t just about serving food. It’s about elevating guinea fowl to hero status in Nigerian cuisine.

‘Guinea fowl is deeply woven into Nigeria’s cultural fabric,’ Bello explains. ‘Across many communities, it was considered a delicacy reserved for festivals, family gatherings, and important celebrations. In many ways, it was a bird of honor.’

AwóBoy is reconnecting Nigerians with this heritage, but with a fresh, contemporary presentation; merging tradition with innovation.

Quality is non-negotiable for AwóBoy. The brand partners with trusted local farmers and handles processing in a controlled facility to guarantee freshness, hygiene, and consistency.

‘We don’t just cook guinea fowl; we elevate it into an experience.’

This commitment to excellence has already earned AwóBoy high praise; including a notable nod from Governor Babajide Sanwo-Olu, who remarked:

‘Wow, you guys must be doing something different. This doesn’t taste like the usual ‘aparo’.’

Like any pioneering venture, AwóBoy has faced its share of challenges, from staffing and operational costs to rising inflation and power instability.

‘Business is not for the faint-hearted,’ says Bello. ‘We’re addressing these challenges by improving planning, reducing waste, refining recruitment, and staying resilient. Every challenge has forced us to innovate and strengthen our foundation.’

Beyond flavor, AwóBoy aims to offer something deeper a reconnection with culture, memory, and identity.

‘We want people to walk away with more than a meal. Every visit is a journey back to the roots, but with a modern twist.’

‘With AwóBoy, we’re building a movement, not just a restaurant. Our mission is to celebrate Nigeria’s past while feeding its future. In the next five years, we see AwóBoy in strategic locations across Nigeria and beyond; introducing the unique taste of guinea fowl to the world in diverse, exciting forms.’

Massad Boulos, President Donald Trump’s senior envoy to Africa, has assured of American government’s support to end activities of Boko Haram and other terrorists groups, currently ravaging and killing innocent people in Nigeria.

Boulos, speaking with journalists, after meeting with President Bola Tinubu, on the sideline of the ongoing Aqaba summit in Rome, Italy, said Boko Haram are targeting more Muslims in the country.

This is as Boulos, also dismissed claims that by US Senator, Ted Cruz and others of religious genocide and christians in Nigeria.

Recall that Cruz and his collaborators are said to be sponsoring a ‘U.S. bill on Nigeria, titled: ‘ The Nigeria Religious Freedom Accountability Act, 2025″, seeking to designate Nigeria as a ‘Country of Particular Concern.’

The bill is also seeking to impose sanctions on persons allegedly complicit in religious persecution in Nigeria.

But Boulos described the narrative as ‘certainly unfortunate.’

‘Of course, any incidence, any loss of life is absolutely unfortunate. Those who know the terrain well, know that terrorism has no colour and no religion, or tribe.’

According to him, ‘people of all religions and tribes are dying because of these acts of terrorism, but it is very unfortunate.

‘We know that the Boko Haram and ISIS are killing more muslims than christians.

‘People are suffering from all sorts of backgrounds. this is not specifically a target about one group or the other.

‘We should work together in partnership to put an end to this.’

The US envoy however, acknowledged that farmers in the Nigeria Middle Belt region have been particularly targeted by herdsmen.

‘With regards to other incidence that happens in tne middle belt region for example, farmers are targeted and most of these people happen to be Christians and herdsmen are ravaging through the area, but definitely, it is not something that we can say is specifically targeted about a specific group.’

Boulos said people in the region must work together to put an end to this attacks against farmers in the region.

He however, commended the Nigerian government and President Tinubu’s administration for recent additional measures, taken to end the attacks against farmers.

‘We know that more resources are being deployed in those areas and we have seen some improvements in recent weeks.

‘We appreciate those measures and definitely look forward to more of those and we look forward to ending this acts, where ever they come from and we know that Nigeria is a melting pot, it is a country in which all sorts of religious groups and other ethic and tribal groups are living together in harmony for centuries and Nigerian population is split 50/50 probably between Christians and muslims.

‘So, there has never been a serious religious issus and should never be.

‘We appreciate what President Tinubu has done as we will continue to work together to ensure that the issues are taken care of.’

Woodhall Capital, in partnership with the Nigeria Governors’ Forum (NGF), the Presidential Enabling Business Environment Council (PEBEC), the Office of the Senior Special Assistant to the President on International Cooperation (OSSAP-IC), and the African Export-Import Bank (Afreximbank), recently convened a landmark event that brought together African leaders, investors, and financiers to accelerate capital mobilisation for subnational governments and strategic infrastructure projects.

The Pre-Investor Forum, held under the theme ‘Facilitating Intra-African Trade: Unlocking the Potential of African Direct Investments (ADI) and Foreign Direct Investments (FDI) to Drive Trade and Sustainable Growth,’ spotlighted the immense potential of Nigeria’s subnational governments to act as anchors for regional economic integration under the African Continental Free Trade Area (AfCFTA).

The event was graced by distinguished dignitaries, including Senator Kashim Shettima, GCON, Vice President of the Federal Republic of Nigeria, represented by Senator Ibrahim Hassan Hadejia, Deputy Chief of Staff to the President, Office of the Vice President; Governor AbdulRahman AbdulRazaq, Chairman of the Nigeria Governors’ Forum, represented by Professor Dauda Yinusa, Executive Director, Policy, Strategy and Research; Alain-Thiery Mbongue, Chief Operating Officer and Head of Mission, Anglophone West Africa, Afreximbank; and the Nigerian-British Chamber of Commerce (NBCC).

The forum featured keynote addresses, investor-confidence panels, and investment dialogues focused on scaling regional competitiveness through innovation and financing.

A highlight of the event was the formal signing of strategic Memoranda of Understanding (MoUs) and partnership agreements between Woodhall Capital and Afreximbank.

The agreements included the Africa Trade Gateway (ATG) Contract, which upgrades Woodhall Capital from a Market Maker Agreement to a Strategic Trade Corridor Partner, and the Creative Hub MoU between Afreximbank’s Creative Africa Nexus (CANEX) and Woodhall Capital, aimed at financing Africa’s creative economy and transforming cultural assets into globally tradable investment classes.

Empowering Subnational Governments

The Pre-Investor Forum served as a platform for strengthening collaboration among key stakeholders and aligning strategies for attracting African and international investments.

Mojisola Hunponu-Wusu, President of Woodhall Capital, reaffirmed the firm’s commitment to creating structured investment platforms that connect state-led development initiatives with domestic and international investors. She noted that ‘Africa’s growth story is increasingly subnational,’ and that unlocking the potential of Nigerian states through strategic partnerships, policy alignment, and capital mobilisation is vital to achieving sustainable and inclusive economic transformation across the continent.

Unlocking Intra-African Trade

During her goodwill message, Princess Zahrah Mustapha Audu, Director-General of the Presidential Enabling Business Environment Council (PEBEC) Secretariat, highlighted PEBEC’s mission to make Nigeria a progressively easier place to do business.

She noted that beyond ease, the goal is competitiveness, creating the right policy environment, strengthening institutions, and building the trust that investors need to make long-term commitments.

Audu emphasized that the African Continental Free Trade Area (AfCFTA) presents an unprecedented opportunity to expand markets, strengthen regional value chains, and position Africa as a competitive global player.

Afreximbank’s Commitment

During his keynote address, Alain-Thierry Mbongue, Regional Chief Operating Officer, Anglophone West Africa (AWAF), Afreximbank, highlighted Afreximbank’s commitment to supporting sub-sovereign leadership and promoting economic integration across Africa.

He noted that the African Sub-Sovereign Governments Network (AfSNET) has evolved into a continental movement, enabling cross-border partnerships, providing access to finance and investment readiness support, and linking local leaders directly to investors and trade opportunities.

Mbongue emphasized that development must be decentralized, beginning where the needs are most deeply felt, in cities, provinces, counties, and regions, and flowing outward to shape national and continental progress.

A New Era for Africa’s Economic Integration

The Pre-Investor Forum reinforced the collective resolve of governments, financiers, and investors to deepen Africa’s economic integration and position Nigeria as a leading hub for intra-African and global investment flows.

As the host of the event, Woodhall Capital continues to pioneer innovative frameworks that empower sub-sovereign entities to access long-term, sustainable capital.

The forum demonstrated the growing investor confidence in Nigeria, with a focus on policy reforms, public-private partnerships, and targeted funding strategies to unlock economic growth.

The event served as a prelude to the International Investors Forum to be held in London, Dubai, and Abu Dhabi, further solidifying Nigeria’s position as a key destination for investment and economic partnerships.

Damilare Ajiboye, technology entrepreneur and Founder of Ocean Trends Digital Limited, has been officially inducted as an African Youth Ambassador by the African Union Youth Council (AUYC) Nigeria Chapter, during the 2025 African Youth Diplomatic Conference and Induction Ceremony held at the Army Resource Centre, Asokoro, Abuja.

The event, themed ‘Empowering Youth Voices in African Diplomacy,’ brought together young leaders, diplomats, and innovators from across the continent to discuss Africa’s development agenda, youth inclusion, and cross-continental cooperation.

Ajiboye, who served as one of the Keynote Speakers, delivered a presentation titled ‘How African Youth Can Leverage Technology for Cross-Continental Peace and Trade.’

In his address, he emphasized the importance of digital innovation as a unifying force capable of bridging borders, promoting trade, and strengthening peace across Africa.

‘Technology is not just a tool for connection; it is a bridge for collaboration,’ Ajiboye said. ‘If African youth can harness innovation for shared growth, we can build an Africa where peace and progress move hand in hand.’

Temisan Louis, the AUYC President, commended Ajiboye’s contribution to the continent’s digital transformation, describing him as ‘a young visionary using technology to create opportunities and strengthen youth participation in Africa’s development agenda.’

Ajiboye’s induction as an African Youth Ambassador recognizes his outstanding leadership in technology, entrepreneurship, and youth empowerment through his company, Ocean Trends Digital Limited, which has developed multiple innovative digital products serving industries across Africa and beyond.

The conference also featured panel discussions, diplomatic networking sessions, and the official induction of new youth ambassadors committed to promoting the ideals of the African Union Youth Charter and the Agenda 2063 vision – ‘The Africa We Want.’

The recognition adds to Ajiboye’s growing list of leadership engagements and international contributions in technology and innovation, further reinforcing his role as one of the young African voices driving the continent’s digital and diplomatic progress.

With less than six months to the recapitalisation deadline for Nigerian banks, 11 banks have fully satisfied the minimum capital base requirements, according to findings by BusinessDay.

Three of the banks with international licenses have met the requirements, while six banks with a national license have also shore up their capital base. And two non-interest banks have met the requirements.

In this report, BusinessDay explores the different strategies adopted by these lenders that have led to an addition of N1.72 trillion to their share capital.

Access Bank – Rights Issue

Access Bank Plc, the subsidiary of Access Holdings Plc, was the first bank to reach the new minimum recapitalisation. The group raised N351 billion from its rights issue, where it issued 17.773 billion shares to existing shareholders.

Then the group spent N343 billion from the amount raised on the recapitalisation of Access Bank, moving the bank’s paid-up share capital to N594.8 billion. Before the capital rules, Access Bank had a paid-up share of N251 billion.

Zenith Bank – Combination of public offering and rights issue

After Access Bank, Zenith Bank was the next lender to complete its recapitalisation. The bank raised N350.4 billion from its combined offer of public offering and rights issue. N343.9 billion of the amount raised was used in the recapitalization of Zenith Bank, taking the bank’s paid-up share capital to N614.6 billion.

The bank raised N188.4 billion from its rights issue and N162.1 billion from its public offer. This raise was carried out between August and September 2024.

GT Bank – Public offering and accelerated bookbuild

Guaranty Trust Bank adopted a distinct route by staging two separate public offers across two stock exchanges. This bold move positioned it as the first Nigerian financial institution to list on the London Stock Exchange (LSE).

In July 2024, its parent company, GTCO Holdings, raised N209.4 billion through a domestic public offer. A year later, it secured an additional $105 million (about N156 billion) via an accelerated bookbuild on the LSE. The group subsequently recapitalised

GT Bank with N365.85 billion, increasing its paid-up share capital from N138 billion to N504 billion.

Stanbic IBTC Bank – Rights issue

Stanbic IBTC Bank was the first national bank to hit the recapitalisation requirement. Before the capital rule, the bank had N62.5 billion in paid-up share capital. This figure increased to N202.5 billion after the group, Stanbic IBTC Holdings, recapitalised the bank with N140 billion.

Stanbic IBTC Holdings carried out a rights issue in January, where the group raised N150 billion. The group recorded a 121.9 percent subscription rate from the rights issue. At the conclusion, the group spent N140 billion of the amount raised on the recapitalisation of the banking subsidiary.

Wema Bank – Rights Issue and Private Placement

In quite a revolutionary fashion, Wema Bank has concluded the recapitalisation exercise, with its paid-up share capital currently at N264.9 billion.

When the capital rule was announced, Wema Bank had just concluded a N40 billion rights issue, which occurred in December 2023. Essentially, before the recapitalisation efforts began, the bank had a N67.1 billion paid-up share capital. Then, between April to May 2025, the bank launched a N150 billion rights issue.

With the completion of the rights issue in September, the bank crossed the minimum recapitalisation of N200 billion with N217 billion. In October 2025, the bank announced it had completed a private placement of N50 billion. After the rights issue and private placement, the bank was recapitalised with N197.7 billion.

Globus Bank – Two Private Placements

Globus Bank has raised N155 billion in two tranches of private placements to take its paid-up capital to N200 billion.

In an interview with BusinessDay, Elias Igbinakenzua, the bank’s managing director, said that the bank had raised N53 billion in 2024 and raised an additional N102 billion in 2025.

Igbinakenzua said, ‘Last year, 2024, we raised an additional N53 billion to take the paid-up capital to N98.5 billion. This year, 2025, we have just completed the balance by raising another fresh capital of N102 billion. So, subject to CBN’s capital verification, we have completed our capital raise exercise and have crossed the CBN requirement of N200bn for a bank with national authorisation, ahead of the Q1, 2026 deadline.’

Premium Trust Bank – Private Placement (Details Undisclosed)

One of Nigeria’s youngest banks, Premium Trust Bank, has completed its

N200 billion capital raise. While details of the process remain undisclosed, since the bank operates as a private company, the funds were likely secured through a private placement of shares.

Speaking to BusinessDay, Emmanuel Emefienim, CEO of Premium Trust Bank, described the milestone as ‘a defining moment,’ noting that the bank has exceeded the N200 billion capital requirement, though specifics of the capital raise were not made public.

Citibank Nigeria – Capital Injection by Parent Group

Citibank Nigeria, which is a subsidiary of Citigroup, announced it had reached the N200 billion paid-up capital mark.

Nneka Enwereji, managing director/CEO of Citibank, in a statement, said, ‘Meeting the CBN’s N200 billion capital requirement is more than compliance – it is a statement of confidence in Nigeria’s future and a deliberate investment in its next chapter of growth.’

The capital raise by Citibank Nigeria was facilitated by a capital injection by the holding group, Citigroup.

Ecobank Nigeria – No raise needed

When the recapitalisation was announced, Ecobank Nigeria was the only bank with a national license that was not affected. With a paid-up share capital of N353 billion, the bank had satisfied the minimum paid-up share capital requirement.

However, the asset quality of the bank remains in question, a factor that necessitated the raising of additional tier-1 capital by the group in July.

Jaiz Bank – Private Placement

As a non-interest bank, the minimum capital requirement for Jaiz Bank is N20 billion. When the recapitalisation was announced, the bank had a paid-up capital of N18.6 billion, with a shortfall of N1.4 billion.

However, in line with the capital rule, the bank raised about N10 billion in a private placement. The bank now has a paid-up share capital of N28.6 billion.

Lotus Bank – No raise needed

Before the recapitalisation was announced, Lotus Bank had a paid-up share capital of N20.9 billion. As a non-interest bank, the bank, just like Ecobank, was not obligated to raise additional share capital.

Governor Dikko Umar Radda of Katsina State has approved the appointment of eight new permanent secretaries into the State Civil Service, following the recent retirement of some senior officials.

This is contained in a statement by Ibrahim Mohammed Kaula, the Chief Press Secretary to the Governor and made available to newsmen on Friday.

The appointments strategically positioned experienced professionals across key sectors to advance the Governor’s ‘Building Your Future’ agenda and ensure effective service delivery to the people of Katsina State.

According to the statement, ‘This move is part of the administration’s broader effort toward strengthening the state’s civil service and ensuring effective public administration across all ministries and departments, in line with its vision for a more accountable and efficient governance system.

‘The new Permanent secretaries are: Yusuf Ahmed – Katsina LGA, Aminu Ibrahim – Katsina LGA, Aishatu Abdullahi – Dutsinma LGA, Dasuki Ibrahim Abubakar – Malumfashi LGA, Lawal Abashe – Matazu LGA, Ado Yahaya – Sabuwa LGA, Sani Rabi’u Jibiya – Jibiya LGA, Nasiru Ladan – Kaita LGA.

‘Governor Radda congratulates the newly appointed Permanent Secretaries and charges them to fully embrace the ‘Building Your Future’ vision by demonstrating steadfast commitment to serving the people of Katsina State with dedication, integrity, and excellence.

‘He emphasised that their appointments are based on merit, competence, and a proven record of service to the state, assuring that his administration will continue to recognize excellence and reward commitment within the civil service.

‘The date for the official swearing-in ceremony will be announced in due course.’